# semiconductor cycle

Memory Market Hits a 'Super Cycle' as Prices Surge and Chinese Suppliers Reap Windfall

From Q3 2025 a sharp rally in global memory prices has produced a 'super cycle' that propelled DRAM and NAND spot prices up more than 300% cumulatively. Chinese storage suppliers have reported improved earnings, and research houses forecast continued price gains into early 2026 driven by AI and datacentre demand, though cyclical risks and capacity responses could temper the upswing.